Envestnet Portfolio Solutions Inc. Invests $331,000 in Rambus Inc. (NASDAQ:RMBS)

Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,257 shares of the semiconductor company's stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMBS. Lindbrook Capital LLC raised its stake in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 166 shares in the last quarter. Arizona State Retirement System increased its holdings in Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock valued at $1,651,000 after buying an additional 202 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock valued at $472,000 after buying an additional 246 shares in the last quarter. Quarry LP lifted its holdings in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after buying an additional 264 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Rambus by 7.9% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company's stock worth $252,000 after acquiring an additional 317 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the sale, the chief executive officer now directly owns 306,931 shares of the company's stock, valued at approximately $17,998,433.84. This represents a 3.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares of the company's stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,952 shares of company stock valued at $4,992,255. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Down 3.6 %

NASDAQ RMBS traded down $1.92 on Monday, hitting $51.78. The stock had a trading volume of 1,020,463 shares, compared to its average volume of 1,298,720. The company's 50-day moving average is $59.16 and its two-hundred day moving average is $53.60. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 31.19 and a beta of 1.25.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com lowered Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Evercore ISI started coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.71.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.